I purchase something from a company, and I get some rebate.
I open an account with a bank, and I get some bonus.
Questions (for The United States)
- To me, are rebate and bonus taxable income when I report my personal income tax in 1040 form?
- To the company, is the rebate excluded when calculating its taxable income?
- To the bank, is the bonus excluded when calculating its taxable income?
Thanks and regards!